Judging from the Hermès bags’ second-hand market situation in the video, Chinese consumers’ purchasing power for luxury goods is decreasing. This trend of rapidly declining purchasing power began last year.
However, the decline in consumer purchasing power is not a worldwide phenomenon; some developed countries are actually seeing growth in this area.
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Chinese Run out of Money, Luxury Sales Plummet: Hermès, Chanel, Gucci Stores Deserted
